IDOX Buys Computershare's Electoral Management Unit For GBP4.4M

27th Jul 2010 07:38

LONDON (Dow Jones)--IDOX PLC (IDOX.LN), a supplier of software and services to the U.K. public sector, Tuesday said it has agreed to buy Computershare Electoral Management Services Ltd. from Computershare Ltd. (CPU.AU) for up to GBP4.4 million of existing cash. CEMS, which trades as Strand Business Systems and will be re-named Strand Electoral Management Services Ltd., provides electoral management software and services, supplying 116 local authorities that cover a voting population of 13 million people. An initial payment of GBP3.9 million will be made and a further GBP500,000 payment is payable July 2011 subject to certain conditions. IDOX said the acquisition will be immediately earnings enhancing and completion is expected by the end of July 2010. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; [email protected] (END) Dow Jones Newswires July 27, 2010 02:38 ET (06:38 GMT)